Brightcove (NASDAQ:BCOV) Stock Rating Lowered by Lake Street Capital

Brightcove (NASDAQ:BCOV) was downgraded by research analysts at Lake Street Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

BCOV has been the subject of several other reports. StockNews.com cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Rosenblatt Securities reissued a “neutral” rating and set a $4.45 price objective (down from $5.00) on shares of Brightcove in a research note on Monday.

Brightcove Stock Down 0.2 %

Shares of NASDAQ BCOV opened at $4.31 on Monday. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.33. The firm has a fifty day moving average of $2.43 and a 200-day moving average of $2.29. The stock has a market capitalization of $194.54 million, a PE ratio of -20.52 and a beta of 0.74.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have acquired 48,988 shares of company stock worth $100,789. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brightcove

A number of institutional investors have recently added to or reduced their stakes in BCOV. Nantahala Capital Management LLC acquired a new position in Brightcove in the 2nd quarter worth $3,114,000. First Eagle Investment Management LLC lifted its holdings in Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after buying an additional 269,302 shares in the last quarter. P.A.W. Capital Corp acquired a new position in Brightcove in the 3rd quarter worth $540,000. Jacobs Levy Equity Management Inc. lifted its holdings in Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after buying an additional 225,482 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Brightcove by 17.3% in the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after buying an additional 139,049 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.